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Detroit Three autoworkers could get huge bonuses

For a long time, being a line worker for one of the Detroit Three has meant living with an uncertain future. With the health of American automakers on the rise, though, things are also starting to look up for the men and women building the cars. The latest sign that things aren't bad? Big profit-sharing checks.
According to The Detroit News, Ford, General Motors and Chrysler could end up paying over $800 million to 130,000 workers as part of a profit-sharing plan. According to The News, the economic impact of these profits in Michigan alone could exceed $400 million, besting the NFL's Super Bowl, MLB's All-Star Game and the NHL's Winter Classic for their economic impact.
This is the third straight year the Detroit Three have issued profit-sharing checks to UAW employees, and for many workers, the checks are as close as they'll get to a raise, due to the most recent contract between the union and the manufacturers. On average, employees at GM and Ford receive $1 for every $1 million in North American (not just the US) pre-tax profits. Chrysler, meanwhile, gets a similar deal, although the Auburn Hills-based company calculates profit sharing using 85 percent of the brand's global profits.

Fiat Chrysler and Renault pursue $35-billion merger to combat car industry upheaval

MILAN/PARIS — Fiat Chrysler pitched a finely balanced merger of equals to Renault on Monday to tackle the costs of far-reaching technological and regulatory changes by creating the world's third-biggest automaker. If it goes ahead, the $35 billion-plus tie-up would alter the landscape for rivals including General Motors and Peugeot maker PSA Group, which recently held inconclusive talks with Fiat Chrysler (FCA), and could spur more deals. Renault said it was studying the proposal from Italian-American FCA with interest, and considered it friendly. Shares in both companies jumped more than 10 percent as investors welcomed the prospect of an enlarged business capable of producing more than 8.7 million vehicles a year and aiming for 5 billion euros ($5.6 billion) in annual savings. It would rank third in the global auto industry behind Japan's Toyota and Germany's Volkswagen. But analysts also warned of big complications, including Renault's existing alliance with Nissan, the French state's role as Renault's largest shareholder and potential opposition from politicians and workers to any cutbacks. "The market will be careful with these synergy numbers as much has been promised before and there isn't a single merger of equals that has ever succeeded in autos," Evercore ISI analyst Arndt Ellinghorst said. With these sensitivities in mind, FCA proposed an all-share merger under a listed Dutch holding company. After a 2.5 billion euro dividend for existing FCA shareholders - giving a big upfront boost to the Agnelli family that controls 29% of FCA - investors in each firm would hold half of the new entity. The merged group would be chaired by Agnelli family scion John Elkann, sources familiar with the talks told Reuters, while Renault chairman Jean-Dominique Senard would likely become CEO. Italian Deputy Prime Minister Matteo Salvini said the proposed merger could be good news for Italy if it helped FCA to grow, but it was crucial to preserve jobs. He did not comment on the French government's 15% stake in Renault, but an influential lawmaker from the ruling League party said Rome may seek a stake in the combined group to balance France's holding. A deal could also have profound repercussions for Renault's 20-year-old alliance with Nissan, already weakened by the crisis surrounding the arrest and ouster of former chairman Carlos Ghosn late last year. The Japanese carmaker has yet to comment on FCA's proposal.

2018 Chrysler Pacifica Hybrid Long-term Review | Introducing something green

BIRMINGHAM, Mich. — I'm stoked to drive this minivan. Legitimately. The 2018 Chrysler Pacifica hybrid is an impressive evolution of the minivan and a smart execution of electric technology. Why hasn't someone made a hybrid minivan until now? I ponder this as I unplug the charger and take my first spin in the Pacifica, the newest addition to the Autoblog long-term fleet. Sinking into the leather seats, I'm immediately relaxed. That's why you buy a minivan: comfort and convenience. Hybrid tech? Well that makes this thing sustainable and even cool. Whether your friends are swanky or wonky, play the plug-in hybrid card and your people hauler is cooler than theirs. What we got We went with the Pacifica Hybrid Limited. It starts at $44,995 and wears a beautiful shade of Ocean Blue. The interior features black and alloy pieces and leather. Power comes from the sturdy 3.6-liter Pentastar V6 dubbed the eHybrid for this application, and it works with an eFlite electrically variable transmission home to two motors making 84 and 114 hp. The hybrid battery pack has 96 lithium-ion cells that generate 16 kWh of energy. The net system power is 260 horsepower. In real-world driving, it's quick, torquey and more fun to drive than the average minivan. It can charge in two hours using a Level 2 charger and offers 33 miles of range on pure electricity. Collectively, it puts out 84 MPGe, and using just the Pentastar it's still rated at a robust 32 mpg in combined city and highway driving conditions. The Limited is the top-of-the line Pacifica trim, offering heated and vented front seats, an 8.4-inch Uconnect touchscreen and 13 Alpine speakers as standard equipment. We added a safety and tech package ($995) that includes parking assist, a 360-degree surround view camera, lane departure warning, adaptive cruise control, seatback video screens and a Blu-ray DVD player. We also ticked the box for the hybrid appearance package ($395) to add 18-inch polished aluminum wheels, body color treatments for the mirrors and door handles, and a "Black Spear Applique" for the rear fascia. It's not worth your money. We topped it off with the $1,595 tri-pane sunroof, which is totally worth your money. Final cost including destination: $49,325. It's reasonable, considering the level of luxury the Limited offers, and as we all know, hybrid tech isn't cheap. If you can get the $7,500 federal tax credit the government offers on electrics, it's a great value.